Retail

Vietnam's retail sales, service revenue grows 9.4% YoY in Jan-Feb

04 Apr '25

1 min read

Vietnam's retail sales, service revenue grows 9.4% YoY in Jan-Feb

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Insights

Vietnam's retail sales and service revenue grew by 9.4 per cent YoY in January-February 2025, surpassing the 8.4-per cent growth seen in the same period in 2024, indicating strong market momentum.
The country has set a goal of achieving a 10-per cent annual rise in such revenue.
However, consumer behaviour is turning more selective, indicating a growing preference for essential goods and services.

Total retail sales and service revenue in Vietnam grew by 9.4 per cent year on year (YoY) in the first two months this year, surpassing the 8.4-per cent growth recorded in the corresponding period last year, according to the General Statistics Office.

This indicates strong market momentum.

Factors contributing to this positive trajectory include the government’s decision to raise the base salary in July 2024 that increased the purchasing power of consumers; rapidly expanding modern retail chains and e-commerce platforms; and increasing urbanisation and the rise of digital payment solutions, a domestic media outlet reported.

The country has set a goal of achieving a 10-per cent annual increase in total retail sales and service revenue on the back of economic growth and expanding modern trade channels.

However, consumer behaviour is becoming more selective, and this indicates a growing preference for essential goods and services, affecting different retail sub-sectors in different ways.

Companies investing in omni-channel strategies, integrating physical stores with online shopping, are likely to capture a larger share of consumer spending.

Vietnam’s potential upgrade to an emerging market status by September 2025 could attract substantial foreign investment, particularly into consumer-related stocks.

Fibre2Fashion News Desk (DS)

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